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SKW
SKW
SKW - Skinwell Holdings Limited - Change in Directors` Shareholdings as a Result
Of the Implementation of the Specific Repurchase of 19 806 322 Shares
SKINWELL HOLDINGS LIMITED
(formerly Placecol Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2003/025374/06)
JSE code: SKW
ISIN: ZAE000135893
("the company")
CHANGE IN DIRECTORS` SHAREHOLDINGS AS A RESULT OF THE IMPLEMENTATION OF THE
SPECIFIC REPURCHASE OF 19 806 322 SHARES
The company`s Prospectus incorporated details of the restructuring agreement and
the requirement to repurchase shares from the original vendors should the
consolidated net profit after tax for the year ended 29 February 2008 be less
than R9.2 million calculated on the basis that the company would repurchase 535
306 of the shares issued to the vendors for every R50 000 by which the February
2008 PAT was less than R9.2 million for the aggregate sum of R1.00 ("the
Agreement"). At the annual general meeting held on 2 October 2008, shareholders
approved the repurchase of 11 893 332 shares from the original vendors and these
shares have accordingly been cancelled and delisted from the JSE Limited
("JSE").
Subsequent to the annual general meeting, and as advised in terms of
announcements dated 20 February 2009 and 3 June 2009, shareholders, at a general
meeting held on 2 July 2009 ("the general meeting"), approved the repurchase by
the company of a further 19 806 322 shares from the original vendors for the
aggregate sum of R1.00 ("the second repurchase"). The number of shares pursuant
to the second repurchase, as previously announced and as set out in the circular
to shareholders dated 10 June 2009 has not changed, however, the calculations
relating to the number of shares to be repurchased from each vendor was changed
and approved at the general meeting, as follows:
Name of shareholder Number of
shares to
be
repurchased
Charles William Moolman* 8 163 217
Wessel Johannes de Wet* 8 163 217
Richard Arthur du Toit 3 061 206
Jan Heystek 102 040
Allan Findlay Brown 316 642
19 806 322
*Directors
The second repurchase was effected on 23 July 2009 and the relevant shares have
been cancelled and delisted from the JSE.
As a result of the above, the directors` direct beneficial shareholdings in the
company`s shares changed as follows:
Name of shareholder Number of Number of Balance
shares held shares at 27 July
before the repurchase 2009
second d
repurchase
CW Moolman 20 805 798 8 163 217 12 642 581
WJ de Wet 22 555 798 8 163 217 14 392 581
Midrand
27 July 2009
Lead Designated Adviser
Grindrod Bank Limited
Corporate Adviser and Joint Designated Adviser
Vunani Corporate Finance
Date: 27/07/2009 15:15:08 Produced by the JSE SENS Department.
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